The ES 24 hour S&P futures have shifted into trending mode in all of the time frames that we watch on this thread. There’s neither a 5 day or 2-3 day cycle projection. Both have been surpassed and there’s not enough wave amplitude for any downside projections. I was able to derive a projection using moving averages for a 4 day period and they pointed to a high of 5595-5600.
The market does appear to be cycling on a 3 day basis with a low ideally due tomorrow and a high due Thursday. But that only suggests possibly a bit of slowing today and tomorrow. The ES would need to end today below 5570 to break this phase of the uptrend. It would need to close below 5560 to create a potential short term top pattern. Big Move in Superficial Intelligence
For moron the markets, see:
- Swing Trade Screen Picks – Summer’s Here, Dive In July 8, 2024
- Big Move in Superficial Intelligence July 7, 2024
- Tax Collections Post Strong Gain in June July 4, 2024
- Gold is Nowhere Man July 3, 2024
- Liquidity Shows It’s Time to Get Out July 2, 2024
- For Primary Dealers Easy Street is No More June 26, 2024
- When Gold Breaks Out June 25, 2024
- The Fed Doesn’t Matter Any More May 1, 2024
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